Reinsurance News

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Beazley posts robust premium growth for Q1 2019

9th May 2019

Specialist insurer Beazley experienced higher than normal levels of claims within its marine, property, and reinsurance businesses during the first-quarter of 2019, while premium growth continued. Despite the pressures of increased levels of claims, the insurer did report 16% growth in gross written premiums (GWP) for the first-quarter of the year, ... Read the full article

Hiscox uncertain if mid-year rate increases will be adequate

7th May 2019

Global insurer and reinsurer Hiscox saw its gross written premiums increase by 0.6% in the first-quarter of 2019, as a decline in the reinsurance & insurance-linked securities (ILS) segment offset growth in the retail and London market segments. At the same time, the re/insurer is unconvinced mid-year rate increases will ... Read the full article

Munich Re is becoming “digital, leaner, and more profitable”: Joachim Wenning

6th May 2019

Munich Re is driving digital transformation and reducing complexity as part of a strategy to meet its new medium-term profit target of €2.8 billion for 2020, according to its Chief Executive Officer (CEO), Joachim Wenning. “Munich Re is becoming more digital, leaner, and more profitable,” Wenning said in a letter to ... Read the full article

Aon profits up in Q1 with 9% income boost

26th April 2019

Global insurance and reinsurance broker Aon grew its operating income by 9% to $872 million in the first quarter of 2019, partly due to strong organic revenue growth in its Commercial Risk Solutions and Reinsurance Solutions businesses. Operating income also improved by 8% on an adjusted basis due to organic revenue ... Read the full article

MarketScout adds insurtech Wingman to MGA accelerator program

24th April 2019

MarketScout, an electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, has invested in the Wingman insurtech platform and added the start-up to its MGA accelerator program. Wingman provides retail agents with access to cyber insurance coverage in a 60-second quote to bind electronic format, aiming to deliver policies within ... Read the full article

Silvestre promoted to Deputy General Manager for France, Liberty Specialty Markets

18th April 2019

A division of Liberty Mutual Insurance Group, Liberty Specialty Markets has announced the promotion of Emmanuel Silvestre to Deputy General Manager of its French business. Silvestre will be based in Paris and will report to General Manager for France, Richard Deguettes. He will also retain his responsibilities as Continental Europe Underwriting ... Read the full article

AkinovA adds co-founder of Securis to Advisory Board

16th April 2019

AkinovA, an electronic marketplace for the transfer and trading of insurance risk, has announced the addition of Rob Procter to its Advisory Board. Procter is a co-founder of Securis Investment Partners, an independent insurance-linked securities (ILS) manager, and has served as CEO and Chief Investment Officer at the company. Prior to Securis, ... Read the full article

Arch Insurance expands UK Regional Division with Obelisk acquisition

15th April 2019

Arch Insurance (UK) Limited, a division of Arch Insurance International, has completed its takeover of specialist underwriting agency, Obelisk Underwriting. Obelisk Underwriting produced around £5 million of gross written premium (GWP) in 2018, and will form part of Arch UK Regional Division, which is focused on commercial property, casualty, motor, professional ... Read the full article

Law firm HFW bolsters Middle East insurance offering with new Partner

11th April 2019

HFW, an international sector-based law firm, has launched an insurance offering in Abu Dhabi with the hire of Justin Whelan as Partner. This partner appointment is the firm’s fifth to be added since 2018. Whelan’s arrival means HFW now has specialist insurance teams in each of its four Middle East offices. He ... Read the full article

AkinovA adds MS&AD’s Takeshi Doi to Advisory Board

11th April 2019

AkinovA, an electronic marketplace for the transfer and trading of insurance risk, has announced the addition of Takeshi Doi to its Advisory Board. Doi is currently Chief of Cyber Risk Section at MS&AD InterRisk Research & Consulting as well as Deputy General Manager of the Group’s Innovation Section. His focus will be ... Read the full article

Aurous Risk Partners secures first Lloyd’s binder

5th April 2019

Aurous Risk Partners , a London-headquartered managing general agency (MGA), has secured its first Lloyd’s energy binder, led by Arcus Syndicate 1856. Through this arrangement Aurous Risk Partners will be able to offer clients capacity within the European Economic Area (EEA) on behalf of Lloyd’s Brussels security and Arcus Syndicate 5330. Aurous ... Read the full article

Downstream energy sector sees first major capacity decrease since 2001: WTW

5th April 2019

The downstream energy sector experienced its first significant decrease in underwriting capacity since 2001, according to a new energy market report by broker Willis Towers Watson. Downstream capacity fell from $6.8 billion to $6.2 billion in the first major market turn since the aftermath of 9/11, WTW analysts said. They attributed the ... Read the full article

Beazley adds two new products to e-trading platform

4th April 2019

Specialty re/insurer Beazley has added two of its product lines to the broker e-trading platform myBeazley to meet the needs of UK domiciled private business with a turnover of up to £350 million. UK brokers can now access Beazley’s comprehensive service-led cyber product, Beazley Breach Response (BBR), as well as management ... Read the full article

LockerGoga ransomware threatens industrial firms with “chaos,” say experts

3rd April 2019

LockerGoga, the strain of ransomware that is suspected to be behind the recent Norsk Hydro cyber attack, utilises an unusually disruptive hacking approach that can cause “chaos” for the industrial firms that it targets, according to cyber experts. Norsk Hydro, a Norway-based aluminium manufacturing, was forced to disable part of ... Read the full article

MGA EPUL targets unorthodox property risks with launch of Solutions

3rd April 2019

European Property Underwriting Limited (EPUL), a commercial property managing general agent (MGA), has launched a new suite of covers designed specifically to address the challenges brokers face when looking to place cover for unorthodox property owner risks, called Solutions. The range of covers on offer through Solutions, specifically target risks with ... Read the full article